C. Economics: Students draw on concepts and processes from economics to understand issues of personal finance and issues of production, distribution, and consumption in the community, Maine, the United States, and world.
C1 Economic Knowledge, Concepts, Themes, and Patterns
Students understand the principles and processes of personal economics, the role of markets, the
economic system of the United States, and other economic systems in the world, and how economics serves to inform decisions in the present and future.
a. Explain that the study of economics includes the analysis and description of production, distribution, and consumption of goods and services by business, and is the basis of individual personal finance management including saving and investing.
b. Explain and analyze the role of financial institutions, the stock market, and government, including fiscal, monetary, and trade policies, in personal, business, and national economics.
c. Evaluate different forms of money management, and the positive and negative impacts that credit can have on individual finances, using economic reasoning.
d. Identify and explain various economic indicators and how they represent and influence economic
activity.
e. Analyze economic activities and policies in relationship to freedom, efficiency, equity, security, growth,
and sustainability.
f. Explain and apply the concepts of specialization, economic interdependence, and comparative advantage.
g. Solve problems using the theory of supply and demand.
C2 Individual, Cultural, International, and Global Connections in Economics
Students understand economic aspects of unity and diversity in Maine, the United States, and the world, including Maine Native American communities.
a. Analyze the role of regional, international, and global organizations that are engaged in economic development.
b. Compare a variety of economic systems and the economic development of Maine, the United States, and various regions of the world that are economically diverse.
c. Analyze wealth, poverty, resource distribution, and other economic factors of diverse cultures, including Maine and other Native Americans, various historical and recent immigrant groups in Maine and the United States, and various world cultures.
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Maine Learning Results
C. Economics: Students draw on concepts and processes from economics to understand issues of personal finance and issues of production, distribution, and consumption in the community, Maine, the United States, and world.
C1 Economic Knowledge, Concepts, Themes, and Patterns
Students understand the principles and processes of personal economics, the role of markets, the
economic system of the United States, and other economic systems in the world, and how economics serves to inform decisions in the present and future.
a. Explain that the study of economics includes the analysis and description of production, distribution, and consumption of goods and services by business, and is the basis of individual personal finance management including saving and investing.
b. Explain and analyze the role of financial institutions, the stock market, and government, including fiscal, monetary, and trade policies, in personal, business, and national economics.
c. Evaluate different forms of money management, and the positive and negative impacts that credit can have on individual finances, using economic reasoning.
d. Identify and explain various economic indicators and how they represent and influence economic
activity.
e. Analyze economic activities and policies in relationship to freedom, efficiency, equity, security, growth,
and sustainability.
f. Explain and apply the concepts of specialization, economic interdependence, and comparative advantage.
g. Solve problems using the theory of supply and demand.
C2 Individual, Cultural, International, and Global Connections in Economics
Students understand economic aspects of unity and diversity in Maine, the United States, and the world, including Maine Native American communities.
a. Analyze the role of regional, international, and global organizations that are engaged in economic development.
b. Compare a variety of economic systems and the economic development of Maine, the United States, and various regions of the world that are economically diverse.
c. Analyze wealth, poverty, resource distribution, and other economic factors of diverse cultures, including Maine and other Native Americans, various historical and recent immigrant groups in Maine and the United States, and various world cultures.